FPA Capital Fund 3Q16 Commentary; Up 12.28 Percent

FPA Capital Fund commentary for the third quarter ended September 30, 2016.

H/T Dataroma

Dear fellow shareholders,

For the third quarter of 2016, the Fund appreciated by 10.20% and is now up 12.28% for the year. We are pleased with these results. We note that these strong returns were achieved while carrying, on average, 27.6% cash for the quarter and 26.0% for the year. In addition to this sound showing, we are excited prospectively. Most of . . .

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